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  • #230,341
  • Apr 23, 2010 10:43am Apr 23, 2010 10:43am
its friday dude, i expected madness, made a bunch of profit aswell so either way im happy, im just confused about why Greece and the Eurogroup decided to make that announcement today and what exactly the sharks are doing. Because to me this is looking like a short setup and everybody who is able to read charts knows that even if this just went up majorly, this is a minute retracement, 1.31 will be hit according to charts and if it doesnt.. then oh well i dont care i dont play favourites and i trade what i see.

So its fine
  • #230,342
  • Apr 23, 2010 10:43am Apr 23, 2010 10:43am
Before #550 After #558
  • #230,343
  • Apr 23, 2010 10:43am Apr 23, 2010 10:43am
Quoting PipMaxzz
Why am I always on wrong side?
Yesterday I was long hoping for EU to get back to 1.33, and then today I went short at 1.33....suffering again
But it is back to 1.33, so how comes that you are on the wrong side? Cannot believe that you did not have patience to wait (or funds to sustain poor 100 pips drawdown)...

Just patience and money management...
  • #230,344
  • Apr 23, 2010 10:43am Apr 23, 2010 10:43am
Quoting mfoste1
yea as i recall correctly, you were calling for a breach of 3884 ? Youre gonna need a helluva lotta luck for that....
Don't make trades based on things I say. I am constantly managing the risk, and although 38884 is the overall correctional target, I may decide to hold longer or trim earlier.

People told me I would need "helluva lotta luck" for EU to go down to $1.40 when I was short at $1.50.
  • #230,345
  • Apr 23, 2010 10:44am Apr 23, 2010 10:44am
Quoting andreypu
it happened to me systematically. it still does. you just have to adjust your money management and have different entry points... if you are short short from different levels not only one... same with long
Thanks friend! It's hard to pick different levels to short. PA doesnt repsect the S/R lines these two days.
  • #230,346
  • Apr 23, 2010 10:44am Apr 23, 2010 10:44am
Quoting Orbital
its friday dude, i expected madness, made a bunch of profit aswell so either way im happy, im just confused about why Greece and the Eurogroup decided to make that announcement today and what exactly the sharks are doing. Because to me this is looking like a short setup and everybody who is able to read charts knows that even if this just went up majorly, this is a minute retracement, 1.31 will be hit according to charts and if it doesnt.. then oh well i dont care i dont play favourites and i trade what i see.

So its fine
Good luck to you and your cocaine endeavors
  • #230,347
  • Apr 23, 2010 10:48am Apr 23, 2010 10:48am
Quoting JanPoko
But it is back to 1.33, so how comes that you are on the wrong side? Cannot believe that you did not have patience to wait (or funds to sustain poor 100 pips drawdown)...

Just patience and money management...
I closed my longs when it reached 1.33 today, before the US home sales news. With the good data and looking at the daily pivot, today I went short at 1.33. Now I am seeing 65 red pips
  • #230,348
  • Apr 23, 2010 10:49am Apr 23, 2010 10:49am
I would be hesitant to go SHORT at this moment.

That 1H Inverted Head and Shoulder looks promising, with a candle closed above its neckline, breaking it.

Technicals say market should go back equi-distance of the inverted head from the neckline to the top.

Of course, that is theory but I dont really like to mess with higher time frames such as 1 hour and above. That and market has not even moved back to the neckline to re-test it, suggesting there is still potential buyers.
  • #230,349
  • Apr 23, 2010 10:51am Apr 23, 2010 10:51am
Quoting akhtergroup
Good luck to you and your cocaine endeavors

lol - way to put it so politely.


Normans Cay is still around Orbital, it was Escobar's playground, you'd love it there......

News headline

"Fx trader arrested on drug charges, possession of 100 kilos of cocaine"

Commentator: "Well Jane, its always been said those traders are a risky bunch, they'r addicted; never trusted em"
  • #230,350
  • Apr 23, 2010 10:52am Apr 23, 2010 10:52am
Quoting PipMaxzz
I closed my longs when it reached 1.33 today, before the US home sales news. With the good data and looking at the daily pivot, today I went short at 1.33. Now I am seeing 65 red pips

It will be compensated , but u've gone short too early...


  • #230,351
  • Apr 23, 2010 10:53am Apr 23, 2010 10:53am
Guys,

I did not do good in these two days. Yesterday was breakeven and today at -65 pips. I want to hear from you guys here. When did you enter the trade yesterday and today and what was the SL, TP you set and some background info for your decision. That will help me learn from my mistakes.

Thanks in advance friends!
  • #230,352
  • Apr 23, 2010 10:54am Apr 23, 2010 10:54am
Quoting TheLastCoke
Before #550 After #558
Nice one Coke.

Looks like it could be targetting another (bigger) i HnS setup neckline at 420 level by end of play today.

Let's see.
  • #230,353
  • Apr 23, 2010 10:55am Apr 23, 2010 10:55am
Quoting PipMaxzz
I closed my longs when it reached 1.33 today, before the US home sales news. With the good data and looking at the daily pivot, today I went short at 1.33. Now I am seeing 65 red pips
65 pips is nothing. Just wait. I too am prepared to go short soon, when my usual trading conditions are met...
  • #230,354
  • Apr 23, 2010 10:55am Apr 23, 2010 10:55am
Quoting Warwick
Commentator: "Well Jane, its always been said those traders are a risky bunch, they'r addicted; never trusted em"
now how to gauge risk:reward ratio .. I think we could lower risk by diversifying across different products and using a fanned out street layout.. if we inject small amount of product across many distributors under the legal traffiking amounts I think we could significantly reduce risk while keeping reward good
  • #230,355
  • Apr 23, 2010 10:55am Apr 23, 2010 10:55am
Quoting PipMaxzz
Guys,

I did not do good in these two days. Yesterday was breakeven and today at -65 pips. I want to hear from you guys here. When did you enter the trade yesterday and today and what was the SL, TP you set and some background info for your decision. That will help me learn from my mistakes.

Thanks in advance friends!
Well one tip: Think of where you'd place your stop and assume 8billion other traders out there have their stops positioned at the same level.... the rest you can figure out.
  • #230,356
  • Apr 23, 2010 10:57am Apr 23, 2010 10:57am
Quoting JanPoko
65 pips is nothing. Just wait. I too am prepared to go short soon, when my usual trading conditions are met...
I will hold on till 1.34....100 pips drawdown, but will not hold over the weekend!
  • #230,357
  • Apr 23, 2010 10:57am Apr 23, 2010 10:57am
Quoting Orbital
its friday dude, i expected madness, made a bunch of profit aswell so either way im happy, im just confused about why Greece and the Eurogroup decided to make that announcement today and what exactly the sharks are doing. Because to me this is looking like a short setup and everybody who is able to read charts knows that even if this just went up majorly, this is a minute retracement, 1.31 will be hit according to charts and if it doesnt.. then oh well i dont care i dont play favourites and i trade what i see.

So its fine

Agreed. Would be tempting to short at the tl 3375, but crazy gaps past couple weekends, makes it very uncomfortable and who knows what EZ will cook over the weekend. Greece pig has influenced the market majorly the past.
  • #230,358
  • Apr 23, 2010 10:59am Apr 23, 2010 10:59am
  •  MarkH
  • | Joined Oct 2009 | Status: "Show Me The Money" - Jerry McGuire | 222 Posts
Quoting PriceVolume
Not trying to be an a-hole by asking this....but why in the world did you let if run that far against you?
Now you know why......
  • #230,359
  • Apr 23, 2010 11:02am Apr 23, 2010 11:02am
Quoting PipMaxzz
I will hold on till 1.34....100 pips drawdown, but will not hold over the weekend!
Naturally, it depends upon amount you have in play, but if it is sustainable then why not hold over weekend? I do not expect EU to reach 1,34 today, I see maximum around 1.3380
  • #230,360
  • Apr 23, 2010 11:05am Apr 23, 2010 11:05am
Quoting PipMaxzz
Guys,

I did not do good in these two days. Yesterday was breakeven and today at -65 pips. I want to hear from you guys here. When did you enter the trade yesterday and today and what was the SL, TP you set and some background info for your decision. That will help me learn from my mistakes.

Thanks in advance friends!
I dont have your experience, but I traded the trend. Waited PA reach the resistance 1.3325 and I shorted it a bit below. Set TP to 1.3305. Did ok with small pips but I had 200k lot... but I am learning. And I just learned this week an important lesson: better to loose a profit than win a loss!

I am still recovering my 90 pips loss, now my balance is at -20 pips.

Good luck!
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